14 · Nov · 2015
Announcement 4
EXECUTION OF THE ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING (“EPCC”) AGREEMENT FOR THE REGASIFICATION TERMINAL (“RGT”) PROJECT LOCATED AT THE PENGERANG DEEP WATER TERMINAL, JOHOR BY PETRONAS GAS BERHAD TO SAMSUNG-WHESSOE-STS-SCTKL CONSORTIUM.
Pursuant to Paragraph 9.03 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of PETRONAS Gas Berhad (“PGB”) wishes to announce that PGB has, on 14 November 2014, entered into the Engineering, Procurement, Construction And Commissioning (“EPCC”) Agreement for the Regasification Terminal (“RGT”) Project at Pengerang, Johor with SAMSUNG C&T CORPORATION, in Consortium with WHESSOE ENGINEERING LTD, SCIENCE-TECH SOLUTIONS SDN BHD and SAMSUNG C&T (KL) SDN BHD, for a value of USD486,666,000.00 (equivalent to approximately RM1.5 billion).
The contract period for the EPCC for the RGT Project is for a period of fifty five (55) months, commencing 15 October 2014.
The RGT Project will consist of a regasification terminal which will function to receive and store Liquefied Natural Gas (“LNG”) unloaded from LNG carriers into two storage tanks and subsequently converted into gaseous form through a regasification process. The RGT Project is expected to be operationalised by Quarter Four of 2017.
None of the Directors and/or major shareholders of PGB and and/or persons connected to them, has any interest, direct or indirect, in the EPCC.
The Board of Directors, after having taken into consideration the EPCC, is of the opinion that it is in the best interest of PGB.
This announcement is dated 14th of November 2014.
To read the Bursa Malaysia announcement, please click here
Announcement Info
| Company Name | PETRONAS Gas Berhad |
| Stock Name | PETGAS |
| Date Announced | 14 Nov 2014 |
| Category | General Annoucement |
| Reference No | PG-141114-BC5BD |
